A meta-analytic review of antecedents of hospitality and tourism firms’ performance: A cross-cultural comparison

Abstract

Despite the magnitude of scholarly understanding of firm performance, there has been no robust statistical metaanalytic review of antecedents of firm performance in hospitality and tourism journals. Therefore, this study conducted Hunter-Schmidt random-effects meta-analyses on the relationships between firm performance and its predictors based on Kaplan and Norton’s balanced scorecard framework. This study identified fourteen antecedents of firm performance, and all proposed relationships were significant. This study also examined the moderating role of culture on the relationships at continental- and national-approaches by adopting sample ztests and meta-regression. This study found the moderating role of culture on seven relationships at the continental-level comparison and identified corresponding cultural dimensions responsible for the degree of the relationships. This study expanded the literature on firm performance and contributed to strategic and financial management literature. Based on findings, the authors presented several important practical implications.